Politically Exposed Person (PEP) Weekly Digest – Volume 96

96th PEP Weekly Digest:

Introducing the 96th edition of The PEP Weekly Digest, where we present to you the most recent updates and news on the global political stage.

Recent and upcoming elections influence the worldwide political landscape in eight nations, slated between Mar 04, 2025 and May 04, 2025. These elections hold significant importance, as they will determine the direction and governance of each respective country’s future.

Jens-Frederik Nielsen Becomes Greenland’s Youngest Prime Minister, Unveils Ambitious Economic Vision for Independence

One noteworthy event has occurred in Greenland, Jens-Frederik Nielsen, a 33-year-old former minister of industry and minerals, was sworn in as the youngest prime minister of Greenland on March 28 to face the challenges posed by US President Donald Trump’s ambitions to control the Arctic island. In his first press conference as prime minister in his hometown Nuuk, he called for political unity to combat external pressures.

Mr Nielsen’s economic vision for Greenland is ambitious. He aims to shift the focus from discussions about Denmark’s block grant – a little less than US$1 billion (S$1.3 billion) each year that keeps the economy afloat – to business development and the creation of a self-sustaining economy. His ultimate goal is for Greenland, a semi-autonomous Danish territory, to achieve independence through economic self-reliance.

Born and raised in Greenland, Mr Nielsen poses with reindeer he has shot on Facebook posts and has several national badminton championships under his belt. He is known for playing traditional Greenlandic songs at gatherings of his pro-business party, The Democrats, which has joined forces with a small right-wing party and two left-leaning parties in the new coalition.

Abdoulkader Houssein Omar Appointed Djibouti’s New Foreign Minister, Replacing Youssouf After 20 Years

Shifting our focus to Djibouti, Abdoulkader Houssein Omar, a former ambassador to Kuwait and Jordan, was appointed minister of foreign affairs and international cooperation, replacing Youssouf who served in the position for almost 20 years.

“We are not talking about a ministerial reshuffle, this is the only change within the government,” Alexis Mohamed, a spokesman for the Djibouti presidency, told AFP.

The decree was signed by President Ismail Omar Guelleh, who has been in power since 1999 and is expected to be replaced in the next scheduled presidential election in 2026.

Dr. Poonam Gupta Appointed Deputy Governor of Reserve Bank of India for Three-Year Term

In India, the central government announced the appointment of Dr Poonam Gupta, Director General, National Council of Applied Economic Research, New Delhi to the post of Deputy Governor, Reserve Bank of India (RBI) for a three-year term. The appointment comes just days after the RBI’s Monetary Policy Committee (MPC) meeting scheduled for April 7-9, 2025.

“The Appointments Committee of the Cabinet has approved the appointment of Dr Poonam Gupta, Director General, National Council of Applied Economic Research, New Delhi to the post of Deputy Governor, Reserve Bank of India (RBI) for a period of three years from the date of joining the post or until further orders, whichever is earlier,” the government circular said.

Poonam Gupta will take over from Michael Patra who stepped down from the position of Deputy Governor in January.

Malta’s FIAU Fines OKX’s European Arm €1.1 Million for AML Failures Despite MiCA License

In the realm of regulatory affairs, On April 3, Malta’s Financial Intelligence Analysis Unit (FIAU) announced that it had fined OKX’s Europe-based arm, Okcoin Europe, 1.1 million euros ($1.2 million) for multiple AML failures detected in 2023, Cointelegraph reported. In January 2025, OKX received a license under Europe’s new Markets in Crypto-Assets (MiCA) regulation. The license allows OKX to offer regulated services to over 400 digital asset users across Europe. However, the FIAU’s fine shows that the MiCA license does not protect the company from accountability for past compliance failures.

The FIAU said that while OKX had improved its AML policies over the past 18 months, it could not overlook the serious and systematic compliance failures from 2023. These issues were identified during an examination of OKX’s business risk assessment (BRA), which failed to adequately assess money laundering risks.

The authority highlighted deficiencies in the BRA’s methodology, including the inability to manage risks related to cryptocurrency mixers, privacy coins, stablecoins, and decentralized exchanges.

Former Defense Minister Edgard Alain Mebe Ngo’o Sentenced to 30 Years for Corruption and Embezzlement

Shifting our attention to Cameroon, the Special Criminal Court has sentenced a former highly influential defence minister to 30 years in prison for corruption, illicit enrichment, embezzlement and money laundering. Edgard Alain Mebe Ngo’o was not ordered to pay any fine and his bank accounts and property in the capital Yaoundé and the commercial city of Douala will also not be confiscated by the state even though the judge said Mebe Ngo’o could not justify the origin of his assets.

At a hearing held late in the night of 4 to 5 April 2025, the former Defense Minister was sentenced to 30 years in prison. He was accused of embezzling public funds to the tune of CFAF 196 billion.

The final verdict of the Special Criminal Court charged Edgar Alain Mebe Ngo’o with money laundering, over-invoicing and misappropriation of public assets.

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